Defendant shall be punished by a fine not exceeding seven million won.

Where the defendant fails to pay the above fine, one million won shall be the one day.

Punishment of the crime

[criminal record] On April 27, 2016, the defendant was sentenced to two years to imprisonment for a violation of the Act on the Regulation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Fraud) at the Changwon District of Busan High Court on April 27, 201, and the judgment was finalized on May 5, 20

[Criminal Facts of crime] On September 17, 2012, the Defendant: (a) stated that “A victim B (a person aged 65) is engaged in horse racing business within Jeju-do; (b) deposited money in the account in the name of thener; and (c) deposited the passbook in the bank account on the same day; and (d) deposited the passbook in the account on the face of the head of the bank in the name of the victim; and (e) deposited the victim’s account with the seal attached thereto; (b) the victim deposited KRW 20 million on September 23, 2012; and (c) deposited the account in the account of the bank in addition to KRW 1,00,000,000 in total, including KRW 48 million on September 23, 2012; (d) September 24, 2012; and (e) September 15, 2012 on September 25, 2012.

However, at the time, the Defendant was inviting investors in the business of so-called “madur”, which is an illegal private horse at the time, and took the method of attracting investors to make investments in the business of so-called “madur” and using the investment funds kept from subordinated investors in return for dividends to the existing investors without paying the proceeds from the investment funds received from the said investors as dividends, and eventually, it is anticipated that the agreed high-rate dividends will not be paid continuously unless a new investor is detained, and there was no intention or ability to pay the agreed high-rate dividends to the investors because of extremely weak monetary basis for the repayment of dividends and principal.

Accordingly, the defendant was given 30 million won by deceiving the victim.

Summary of Evidence

1. Statement made by the defendant in this court;

1. Each statement of B and F in the suspect examination protocol (BF and comparison) of the defendant prepared by the police officer;

1. Each statement made by the police officer with respect to B, GH and I;

1. The police;